Page 2 - Financial Advisor

Govt's crackdown on alternative investment funds puts industry on watch

The top seven shadow lenders in the country had invested around $1.35 billion in these so-called AIFs, according to their most recent annual reports

RBI plans cloud for financial data, repository for fintech information

It will be rolled out in the medium term and eventually be transferred to a separate entity owned by the financial sector participants, the regulator said

With small & midcaps outperforming, direct more money to largecaps: Experts

Rebalancing by allocating more to an underperformer will help you avoid tax liabilities

Three financial planning mistakes experts make

Your financial plan should not be based on slogans or catchphrases. Instead, keep asking why till you agree with the rationale behind your plan

Govt may infuse capital in PSU general insurers in Q4 based on performance

Finance Ministry would consider capital infusion in three loss-making public sector general insurance companies based on their financial performance of nine months. The infusion if required would be made in the fourth quarter of the current financial year, sources said. According to sources, the finance ministry last year asked three insurers -- National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company -- to chase bottomlines rather than topline and underwrite only good proposals. The financial review would give some idea about the impact of restructuring initiated on the profitability numbers and the solvency margin, sources said. The solvency margin is the extra capital the companies must hold over and above the claim amounts they are likely to incur. It acts as a financial backup in extreme situations, enabling the company to settle all claims. The government last year provided Rs 5,000 crore capital to three insurers -- National

Byju's creditors onboard Kroll to 'safeguard' Great Learning assets

Charged assets are used as collateral to secure a loan, allowing the lender to seize them if the borrower defaults

Veteran banker Aditya Puri joins Deloitte India as senior advisor

Veteran banker and former managing director and CEO of HDFC Bank, Aditya Puri has joined Deloitte Touche Tohmatsu India LLP (Deloitte) as a senior advisor. "Puri will leverage his unparalleled expertise and experience to help Deloitte drive transformation across industries," Deloitte said in a statement on Wednesday. "He also has a personal vision to champion initiatives aimed at boosting affordable healthcare and financial inclusion across India," it said. Puri was the founding CEO of HDFC Bank. He was appointed as CEO of the bank in 1994 and retired after 26 years of service, consistently being named as one of the top business leaders globally. Commenting on his new role, Puri said, "At Deloitte, I see an opportunity to work with talented professionals having reach and expertise across industries. As businesses and industries transform and thrive, we must ensure that everyone in India and especially the underserved communities have access to affordable credit and healthcare ...

Track finfluencer earnings, and have a lot more RIAs

The tax department must share the information gathered under the new TDS section with the regulators to help the latter maintain a finfluencer revenue dashboard

RBI to banks: Report all digital frauds not just those above Rs 1 lakh

The rising volumes of UPI transactions and related frauds have emerged as a major challenge for the banks

For advising on $64 billion HDFC Bank deal, bankers get a 0.0002% fee

HDFC's all-stock merger into HDFC Bank Ltd., which created one of the most valuable banks in the world, has about 18 advisers who got credit for a fee pool of just over $1 million

Personal finance 101 from an industry veteran

The Bee, the Beetle and the Money Bug is a welcome addition to the rather sparse list of books that attempt to equip readers with the fundamentals of financial planning

Despite numerous books, good financial advice hasn't changed in 300 years

Mortimer's success at opening up what was in retrospect an obvious market (who doesn't want to know how to get rich?) encouraged a raft of similar publications

Donald Trump's longtime CFO faces sentencing for tax fraud scheme

Allen Weisselberg, a longtime executive for Donald Trump's real estate empire whose testimony helped convict the former president's company of tax fraud, is set to be sentenced Tuesday for dodging taxes on USD 1.7 million in job perks. New York Judge Juan Manuel Merchan is expected to sentence Weisselberg, a senior Trump Organisation adviser and former chief financial officer, to five months in jail, in keeping with a plea agreement reached in August. Weisselberg, 75, was promised that sentence when he agreed to plead guilty to 15 tax crimes and testify against the company, where he's worked since the mid-1980s. When he begins serving his sentence, Weisselberg is expected to be locked up at New York City's notorious Rikers Island jail complex. He will be eligible for release after little more than three months if he behaves behind bars. As part of his plea agreement, Weisselberg must also pay nearly USD 2 million in taxes, penalties and interest, which he said he has made significa

GSTN in AA network: Operational costs of banks expected to come down

GSTN is expected to go live on AA network in late January or early February, people aware of the development say

With markets near all-time highs, which sectors should you bet on?

The index has rallied over 20% from its 52-week low led by metals, financials and FMCG shares. Do these sectors have enough legs to take the indices further higher or is it time for sector rotation?

Centre likely to release guidelines for social media influencers next month

Additionally, the Securities and Exchange Board of India (Sebi) is also planning similar norms for online financial advice providers or finfluencers

Huge impact of CAs on businesses can save the world: Julia Penny of ICAEW

In a Q&A, the head of the apex body of chartered accountants in the UK discusses the challenge of sustainability and other issues her tribe faces across the globe

Sebi devising regulations to increase accountability of 'finfluencers'

According to Sebi, there has been an exponential rise in the number of unregistered advisors giving unsolicited stock investment tips on social media platforms

Is it time to regulate financial influencers?

The number of 'finfluencers' and their followers are rapidly rising in India. But the country's financial regulators have not carved out any specific norms that finfluencers should stick to

Kirloskar Industries' Board seeks forensic audit on Kirloskar Brothers

KIL raised questions whether the KBL Board, especially the independent directors of KBL, verified the claims made by Sanjay Kirloskar in relation to the Deed of Family Settlement